Broadcom secures $63 billion from banks to finance AI compute sales to Anthropic

Bank of America, Blackstone, Citi and Morgan Stanley announced Monday a $63 billion transaction to deploy AI compute capacity using Broadcom Inc.'s technology for Anthropic. The deal forms part of a strategic compute capacity agreement previously disclosed by Broadcom, with deliveries expected to begin in calendar 2027.

The transaction will be executed through a newly formed special purpose vehicle with committed financing from the four financial partners to purchase Broadcom XPU AI accelerators and networking solutions that will be leased to Anthropic. Bank of America, Citi and Morgan Stanley will arrange the first lien portion of the financing, while Blackstone will serve as the sole provider of the committed portion of the second lien financing. Broadcom will provide residual value support to the SPV for an amount equivalent to the first lien portion of the financing.

Jon Gray, President and COO at Blackstone, said, "The rapidly growing demand for AI is creating an enormous opportunity to finance compute capacity at scale. We're proud to help advance this buildout with Broadcom."

Hock Tan, President and CEO of Broadcom, said, "Today's transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem. Fundamentally, the need for AI compute continues to grow at an extraordinary pace. This validates that there is capital available to finance such growth and that Broadcom is uniquely positioned to enable it."

Earlier Monday, Anthropic officially filed for its long-awaited initial public offering. The company plans to list on Nasdaq under the ticker ANT.

Broadcom shares traded roughly 0.6% higher in after-hours trading Monday following the announcement.